Elliott Hill Takes the Helm as CEO of Nike

Nike has named Elliott Hill, a former senior executive, as its new chief executive officer, taking over from John Donahoe as the organization’s president and chief executive.

Hill arrives with 32 years of experience from his tenure at the sportswear brand, where he held prominent leadership roles in North America and Europe.

Scheduled to assume his new role on 14 October, he was instrumental in increasing the company’s valuation to over £29.28 billion, as noted by Nike.

Before his retirement in 2020, Hill served as the president of the consumer marketplace at Nike, managing market operations and commercial activities for the core brand as well as the Jordan line.

A recent regulatory filing revealed that Hill’s compensation for his new role would include a base annual salary of £1.13 million.

As Nike seeks to enhance its sales in the face of tough competition from rivals like Adidas and Lululemon, the company is implementing strategic measures to fortify its market standing.

Earlier this year, Nike announced intentions to cut 1,600 jobs as part of a plan to achieve £1.6 billion in cost savings over the next three years, in response to slumping sales.

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